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Seeking an internship is something many college students do as an elective. In some majors, such as actuarial science, doing an internship is often required. Typically, the actuarial internship occurs during the summer; however, internships could occur during the spring or fall also. If you hope to choose the best actuarial internship, there are some key issues that need to be considered.
Finding out what former interns think of an internship site is important. Learning about internships can be done by just talking with other students who have completed an internship. By contrast, you could go to the career services department to see if there is any written information on a prospective internship site.
Considering what location you want for an internship is of critical importance. In many cases, the actuarial company decides where the internship will be. Granted, if you have freedom of choice as to where the internship occurs, you will have to consider whether the internship will be in the same town as your college or whether it will be in some other locale. Also, it will have to be determined whether there is a need for a car or whether public transportation to the internship location will suffice.
The number of hours worked per week is something that needs to be considered. If you have other commitments during the summer, such as a summer school course or a job, you may only be able to work part time during the internship. Keep in mind that some companies accept actuarial students with the expectation that the student will work full time during the internship, while other companies expect that the student will only work part time.
Whether the student receives a salary or not for the internship is an issue that must be addressed. Of note, some actuarial internships do not pay a salary and some do. Granted, if you manage to get a salary, it may not be a sufficient one. Thus, you may have to find another source of income to have enough money to get through the summer actuarial internship.
These are just a few of the issues you need to think about if you want to choose the best actuarial internship. As you think about the internship, other issues may come to mind. One of the best ways to do the necessary planning is to sit down and write a list of things that must be addressed pertaining to the internship. In that way, it is more likely all of the necessary internship-related issues will be dealt with effectively during the planning process.
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